FEMA leaders say it’s about risk and equity “The Village has invested in several initiatives that will assist in bringing our CRS score down so as to bring about savings to the residents.”īoth mayors Cunningham and Meerbott say state and federal dollars are needed for larger flood control projects. “Insurance premiums are always a concern when you live close to the coastline,” wrote Palmetto Bay mayor Karyn Cunningham. The community invests around $150,000 a year to clear the drains, and this year, village leaders have put more money towards tree trimming so the branches do not clog up the flood mitigation system. The Village of Palmetto Bay is a CRS class eight and can save homeowners 10% on flood insurance rates. It is what it is depending on where you live and the value of your home,” Meerbott said. “FEMA does all the rating for all the insurance companies you can’t really shop around. The CRS alone can’t stop many of these premium increases, but the mayor said it helps. NBC 6's Phil Prazan reports.Ĭutler Bay is currently undergoing a $3 million project to widen the Bel-Air Canal and replace the Caribbean Boulevard Bridge. On October 1, FEMA is rolling out its new “Risk 2.0” flood insurance program which will factor in rainfall, storm surge, and how much it costs to rebuild into premium costs. To get this, the town has to go through a lengthy process, consistently clear storm drains and finish multi-million dollar construction projects to help with flooding. Cutler Bay has a class four rating which can give homeowners up to a 30% discount on their flood insurance. In short, the CRS shows the community has taken flood mitigation and resiliency steps to defend their area from major events.Įach community is rated one through 10, with one being the best. Local communities have little control over the increase in rates, but they are able to apply for the Community Rating System (CRS), which allows people to get discounts on flood insurance. "Granted, they’re doing the entire country so I can understand that." “First we appealed to FEMA to see if they could roll that back. “Everything is going up right now,” Deegan said.Ĭutler Bay Mayor Tim Meerbott told NBC 6 most people in town will see an increase between $120 and $300 per year. Deegan wanted to know more information but was frustrated the cost could be going up on top of unusually high inflation already impacting homeowners. His property is one of many which will likely pay more in premiums next year. “My insurance company folks and I have been battling back and forth through an attorney,” Deegan said. Like many homes in the neighborhood, his house has a tarp on the roof still covering a leak caused by Hurricane Irma four years ago. After a strong rain, he said flood water will collect for an hour or two before it flows through storm drains and out into the ocean. “The water will fill up and you can see the debris that’s in the grass,” Deegan said, pointing to a clump of debris up from the street about a dozen feet. Jim Deegan has lived in one of those neighborhoods since 2006. Most people in the towns are required by FEMA to have flood insurance. Zip code 33157 is split between the Village of Palmetto Bay and the Town of Cutler Bay. Zip codes inland and on higher ground in North Miami and Miami Gardens - 33055, 3301 - will see more premiums go down. Under the older FEMA methodology, those decreases would not have happened.įederal law caps a premium increase at 18%. The majority of the increases will be up to $120 a year. Many of those policies could have seen increases under the old methodology as well. Thousands of premiums will go up for flood policies in zip codes 33175, 33186, 33157, 3303. Sign up for NBC South Florida newsletters.Īccording to an analysis of zip code data by NBC 6 Investigators, five of the top 10 Florida zip codes with the most premium increases are in Miami-Dade County. Get South Florida local news, weather forecasts and entertainment stories to your inbox.
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